Missed Opportunity for Older Workers to Boost the Economy in the 2018 Budget
With all the rhetoric about the 2018 Budget as being good politics and reasonable economics, there has been another missed opportunity for older workers to be re-engaged back into the Australian workforce to boost the economy.
Treasurer Scott Morrison has laid out the budget plan to further strengthen Australia’s economy, with a focus on constraining both spending and taxing but the Australian economy is still grappling with a lack of structural workforce changes to re-engage older workers.
Opportunities to re-engage older workers are passing Australia by and we are not putting ourselves in the right place to capitalise on what we have rather than relying on forward economic projections to grow the economy.
Many businesses and government often overlook the wealth of knowledge, experience and skills that older workers bring back into the workplace especially in the areas of leadership, projects, crucial business relationships and industry contacts.
There is some recognition by the government in the 2018 Budget to drive cultural change and stop discrimination against older workers, promising to develop strategies. This will take time. On a positive note, there is an increased focus on mature aged people to promote entrepreneurship and new business opportunities.
Older workers and their families, not in the workforce frequently experience lower savings and superannuation. This legacy will stay will us for the rest of their lives and impact on the Australia economy through our dwindling finances, poor physical and mental health and overall wellbeing.
The labour market system in Australia needs a “disruption”. Responding to this inaction, Re-think Re-engage Australia Inc is working at the grass roots level in Brisbane, working with and partnering with business, government and the community to develop structural workforce strategies to fill the void that exists for older workers.
New Zealand has been actively working on the plight of older workers for several years, when is Australia going to get serious?
Anthony (Tony) Wiggins,
Founder, Re-think Re-engage Australia Inc.
Mobile: 0401 458 573